Equities Analysts Set Expectations for NMRA FY2024 Earnings

Neumora Therapeutics, Inc. (NASDAQ:NMRA) – HC Wainwright reduced their FY2024 earnings estimates for Neumora Therapeutics in a research note issued on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects that the company will earn ($1.63) per share for the year, down from their previous forecast of ($1.37). HC Wainwright has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Neumora Therapeutics’ current full-year earnings is ($1.48) per share. HC Wainwright also issued estimates for Neumora Therapeutics’ Q4 2024 earnings at ($0.46) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.77) EPS, FY2027 earnings at ($1.37) EPS and FY2028 earnings at $0.03 EPS.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07). During the same period in the prior year, the company earned ($1.14) EPS.

Other analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Neumora Therapeutics Stock Performance

Shares of NMRA opened at $11.69 on Friday. Neumora Therapeutics has a 52-week low of $8.33 and a 52-week high of $21.00. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -6.25 and a beta of 3.92. The business’s fifty day moving average is $13.07 and its 200-day moving average is $11.41.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. This trade represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joshua Pinto sold 28,496 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now owns 210,469 shares of the company’s stock, valued at $2,447,754.47. This trade represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,538 shares of company stock worth $1,390,513 in the last ninety days. Company insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NMRA. Amalgamated Bank boosted its position in shares of Neumora Therapeutics by 472.8% during the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock valued at $29,000 after purchasing an additional 2,402 shares in the last quarter. Quarry LP bought a new position in shares of Neumora Therapeutics during the 2nd quarter worth approximately $98,000. SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth approximately $147,000. Principal Financial Group Inc. acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Intech Investment Management LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at $175,000. 47.65% of the stock is owned by institutional investors.

About Neumora Therapeutics

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.